Japan Tobacco Said to Start Marketing 50 Billion Yen Bond Sale

Source from:  Bloomberg 11/30/2010

Japan Tobacco Inc., the world's third-largest publicly traded cigarette maker, started marketing a 50 billion yen ($595 million) sale of bonds for this week, according to a person with direct knowledge of the transaction. The company told investors it plans to sell about 30 billion yen of five-year bonds priced to yield between 9 basis points and 12 basis points more than similar-maturity Japanese government debt, said the person, asking not to be identified as the information is private. Japan Tobacco also plans a sale of about 10 billion yen of seven-year bonds and about the same amount of 10-year notes, also at a spread of between 9 basis points and 12 basis points, the person said. A basis point is 0.01 percentage point. It hired Nomura Securities Co., Mizuho Securities Co. and Mitsubishi UFJ Morgan Stanley Securities Co. to help sell the bonds, according to an e-mailed statement on Nov. 4 from Nomura. Enditem